Top 4 trends in differentiating a brand’s journey

With so much information changing hands at an ever-increasing speed in today’s marketing world, pharmaceutical brand life cycle management strategies can no longer solely concentrate on the period from approval to patent expiry. A successful marketing team will need to view the entirety of their brand’s journey from discovery to the day the last script is written.

From years of prelaunch planning to launch—then growth, maturity, decline—a brand’s journey may begin strategically sound only to end up in flux due to unforeseen market influences. The current market demands a high command of real-time data and the preparedness to change strategic direction at any stage along the way.

We’ve identified 4 rising trends that we see having a big impact on your brand over the coming year:

The access environment and stakeholder needs are rapidly evolving– rising healthcare costs continue to trigger a mandate for new data on positive outcomes as the payer landscape continues to shift to a value-based structure; an important consideration for trial design and postlaunch analysis

Digital communications are moving fast and furious– trends of multichannel online resources will continue to increase in our mobile, high-tech world, and need to be addressed from Day 1 of discovery

The steady decline of the traditional pharma business model demands immediate change– incremental upgrades won’t cut it anymore, necessitating a move to a future where creativity, strategy, and data are more closely intertwined

Adding value will become the primary focus for brand communications– this is in addition to the traditional safety, efficacy, dosing, superiority, and pricing stories that will still need to be told

A brand’s journey can last over 20 years, during which a solitary incorrect move at any point could be a million-dollar mistake, making it imperative to have planned multiple strategic paths.

Understanding your brand’s journey and how it syncs with every customer journey needs to be an organic process throughout a brand’s life. Once you understand the depth and breadth of your brand’s journey and have a firm plan for how it will unfold, then and only then can you begin telling its story.

Want to talk more about this post? Email Scott Hibbard at shibbard@beaconhc.com or give him a call at 908-781-2600.